Piper Jaffray Expands Medical Technology Investment Research Team

Business Wire, May 5, 2008

SAN FRANCISCO -- Piper Jaffray announced it has expanded its investment research medical technology team with the addition of Tim Lee as a senior research analyst. He will be based in the firm's San Francisco office and provide coverage of companies in the medical technology sector, allowing the firm to build on its leading health care research franchise.

Lee joins Piper Jaffray with more than 10 years of experience working for companies including Kaufman Brothers, Merrill Lynch, SG Cowen and Salomon Brothers. He was previously a managing director covering the medical technology sector at Caris & Company. Lee earned a bachelor's degree from the University of the Pacific and a Master of Business Administration degree from the Kelley School of Business from Indiana University.

"We continue to bring quality health care analysts to our investment research team at Piper Jaffray and Tim is no exception," says Joel Denney, head of investment research at Piper Jaffray. "He will be a great addition to the medical technology team as we continue to build on our reputation as an industry leader in the health care sector."

In working with hospitals, health care systems, physician groups and HMOs, Piper Jaffray has built a leading position in U.S. health care, and has also quickly built a reputation as one of the leading investment banks in European health care. The firm has ranked as the top IPO underwriter and M&A advisor in the health care industry since 2005(a).

In addition, Piper Jaffray provides research coverage in the following health care sub-sectors: biotechnology: biopharmaceuticals; biotechnology: therapeutics; China healthcare; drug discovery; European biotechnology; European medical technology; health care services: information technology; life science tools; medical diagnostics; medical technology; and specialty pharmaceuticals.

(a) Source: Thomson Financial Securities Data; Dealogic

About Piper Jaffray

Piper Jaffray Companies is a leading, international middle-market investment bank and institutional securities firm, serving the needs of middle-market corporations, private equity groups, public entities, nonprofit clients and institutional investors. Founded in 1895, Piper Jaffray provides a comprehensive set of products and services, including equity and debt capital markets products; public finance services; mergers and acquisitions advisory services; high-yield and structured products; institutional equity and fixed-income sales and trading; and equity and high-yield research. With headquarters in Minneapolis, Piper Jaffray has 25 offices across the United States and international locations in London, Hong Kong, and Shanghai. Piper Jaffray & Co. is the firm's principal operating subsidiary. (NYSE: PJC) (http://www.piperjaffray.com)

Since 1895. Member SIPC and FINRA.

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